PMI Grows

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This morning another good surprise for the Pound - UK PMI (Purchasing Managers Index) showed expansion for May, as opposed to a small contraction expected.

PMI is a measure of the health of the UK services sector, which has been struggling during the recession - so the news is the latest in some boosts for the Pound this week. Sending dollars to the USA is, for example, now at its best level for 9 months.

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PMI Grows

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